27 Apr 2021
WAN NOOR KAMARIAH BINTI WAN JAAFAR 1. ARITAH REALTY SDN BHD 2. MUNIR & SONS (M) SDN BHD 3. SMALL MEDIUM ENTERPRISE DEVELOPMENT BANK MALAYSIA BERHAD 4. PENGARAH TANAH DAN GALIAN KUALA LUMPUR 5. KETUA PENGARAH INSOLVENSI, MALAYSIA - RESPONDEN
- Citation
- W-01(NCVC)(W)-654-11/2018 (Mahkamah Rayuan)
- Court
- NCVC
- Case number
- W-01(NCVC)(W)-654-11/2018 (Mahkamah Rayuan)
The court held that purchasers who had fully paid acquired equitable beneficial ownership and that Aritah Realty, having no beneficial interest, was a bare trustee and lacked legal capacity to sell; registration of transfer to Munir & Sons was effected by insufficient/void instruments and is defeasible under s340(2)(b) NLC, and SME Bank as the immediate chargee who took registration concurrently cannot claim protection as a subsequent purchaser under s340(3) proviso; fraud and illegality were properly pleaded and proven on the balance of probabilities; therefore the High Court judgment was se…